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This is Bob Larson with the Market Line Report for Friday, Sept 14th. December cattle trading is at a premium. From the floor of the CME in Chicago, here's Terry Roggensack.

Roggensack … “Longer term, cattle looks like it can work higher into 2019. However, what about now? Short-term December cattle is trading at an $8.50 premium to the cash market. Normally at this time of the year December will be trading at a $2.50 premium so the market’s already priced in some pretty strong pricing for the fourth quarter. Second factor for the market is boxed beef cutout values, are at the lowest levels since August third. This is a negative factor for the market. When we work lower during September a lot of times you can keep on going down into October.”